Unreconciled inventory balances between RPCI/RPCSP and Accounting Records
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Inaccurate ReportingThe physical inventory records didn't match the official accounting books by over 215 million pesos, meaning the agency's financial reports may be wrong.
Why It Matters
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Original Audit Finding Excerpt
"Par. 3 Deficiencies in inventory accounts a) Non-reconciliation of balances between the reports/records - P215,398,792.50 (See Table 35 – Unreconciled discrepancy between RPCI/RPCSP and Accounting Record)"